The dominant cryptocurrency, Bitcoin, has recently experienced a surge in demand, resulting in significant net inflows. On May 31st, BTC spot ETFs recorded a total of $48.738 million in net inflows, according to SoSoValue, a renowned on-chain data platform. This data indicates a strong and resilient demand in the Bitcoin market.
The market for BTC spot ETFs has witnessed a continuous 14-day streak of net inflows, which came to an end on May 31st. SoSoValue also provided insights into the individual positions of BTC ETFs. One notable example is the BlackRock ETF, known as IBIT, which saw an inflow of almost $169 million. This figure demonstrates that the BlackRock ETF has surpassed Grayscale in terms of position. Grayscale Bitcoin Trust ETF experienced a significant outflow of approximately $124 million. Conversely, Fidelity, another prominent exchange-traded fund, saw some inflows.
As SoSoValue highlights, the Fidelity ETF recorded an inflow of approximately $5.9047 million. Considering this data, it is evident that the BlackRock IBIT ETF is gaining momentum and has now taken the top rank position among BTC funds, surpassing Grayscale’s ETF.
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BTC
ETF
